Doffermyre Shields Canfield Knowles & Devine, LLC, handles cases arising out of bankruptcies and receiverships. We do not typically represent either the debtor or creditors. Rather, we are usually hired by a trustee to pursue claims against third parties on behalf of an estate which lacks funds to pay lawyers on an hourly rate basis or prefers to reduce its risk of litigation. Without our willingness to handle these claims on a contingent fee, many would never be brought.
Examples of our bankruptcy cases include:
- An American air carrier contracted with Venezuela’s major airline to provide international passenger service. When the foreign airline stopped payments, our client filed for bankruptcy. The creditors' committee and distribution agent retained us to help. A federal court trial resulted in a substantial judgment for our client.
- Senior managers took control of the American subsidiary of a foreign conglomerate through a leveraged buyout. Shortly thereafter, undisclosed environmental problems forced the new company into bankruptcy. The trustee hired us to pursue claims against the conglomerate. A settlement allowed our client to escape bankruptcy and resume normal operations.
- We were retained as special counsel to the Oklahoma Commissioner of Insurance, acting in her role as a receiver, to prosecute claims against several Georgia defendants in connection with the bankruptcy of an Oklahoma-based insurance company. The claims were settled before trial on a confidential basis.
- One of our lawyers served on the Tort Claimants Committee in the Dow Corning bankruptcy for almost a decade. He was a member of the team that negotiated a multi-billion dollar settlement of product liability claims.
- The German trustee of one of the largest bankruptcies in that nation’s history sought our help in connection with various claims in Georgia, California and Canada attempting to recover approximately $50 million in assets for the bankrupt estate. The claims ultimately were settled.
- After seeking bankruptcy protection, an Atlanta-based marketing company lacked funds to pay its lawyers' hourly rates to continue pursuing a lawsuit arising out of the breach of a joint venture agreement with a California corporation. We were hired by the trustee to take over the matter, ultimately reaching a settlement.